Their argument was that reading books on computers is unnatural, and so it would never be popular. They forgot that the problem they identified was a fixable problem. Amazon did, building on previous technological advances to come up with the Kindle. The Kindle is lightweight, downloads your books automatically, and has a very natural reading surface.

The problems this guy identifies are real problems, but that doesn't mean these roads will never exist. It just means that there are still issues to solve. I would bet that they get solved, though.